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Daniel Rojas
  • Miami, FL
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Ready To Jump In but need advice

Daniel Rojas
  • Miami, FL
Posted Jul 20 2014, 18:23

My best friend and I have enough cash to start investing in real estate and buying properties with no financing. However, another one of our best friends owns a property management company and also wants to be involved. He has offered to do all the legwork of finding the property, renovating it and selling it etc. We would therefore be acting as hard money lenders and his proposition is to split the net profit 50/50. We wanted to know if this split is normal for this type of set up? 50% sounds like a lot since we will be putting up 100% of the cash. However, this might be normal in the industry and we would like to have some idea before jumping in. I know it will be a lot of time and work just finding and bidding on properties. If anyone else has any better ideas please chime in. Thank you. 

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